Section 58-26-74 - Alternative method for determination of reference interest rate.
58-26-74. Alternative method for determination of reference interest rate. If the Monthly Average of the Composite Yield on Seasoned Corporate Bonds is no longer published by Moody's Investors Service, Inc., or if the National Association of Insurance Commissioners determines that the Monthly Average of the Composite Yield on Seasoned Corporate Bonds as published by Moody's Investors Service, Inc., is no longer appropriate for the determination of the reference interest rate, then an alternative method for determination of the reference interest rate, which is adopted by the National Association of Insurance Commissioners and approved by rules promulgated pursuant to chapter 1-26 by the director, may be substituted.
Source: SL 1995, ch 284, § 30.